Alternative Investments/Digital: Fidelity Launches Crypto And Metaverse Themed ETFs

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The two new thematic ETFs expand Fidelity’s lineup into the crypto and metaverse industries.

Fidelity Investments launched today two new thematic ETFs that provide equity exposure to emerging industry ecosystems such as the crypto and metaverse industries. The Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET) would be available on or about April 21, 2022, for individual investors and financial advisors to purchase commission-free through Fidelity’s online brokerage platforms. (BusinessWire)

Fidelity Crypto Industry and Digital Payments ETF

The ETF invests in companies that support the broader digital assets ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payments processing. It should be noted that the ETF does not offer a direct exposure to cryptocurrency.

Fidelity Metaverse ETF (FMET)

Fidelity Metaverse ETF offers investors exposure to the evolution and future of the internet by providing access to companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the metaverse, such as computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smart phone and wearable technology​.

These two new passively managed ETFs will have expense ratios of 0.39% that are highly competitive.

These are self-indexed ETFs, utilizing Fidelity’s proprietary indices, constructed by Fidelity’s quantitative investing team, to identify equity securities that offer exposure to these rapidly growing industries.

“Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value and new opportunities to investors,” said Greg Friedman, Fidelity’s Head of ETF Management and Strategy. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”

Related Story: Fidelity Canada Launches A Bitcoin ETF And Mutual Fund

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